Jimmy Deenihan (Kerry North, Fine Gael)
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Question 90: To ask the Minister for Finance the person who owns an asset when the National Asset Management Agency has taken over a non-performing loan; the person who has the right to dispose of an asset arising from a non-performing loan, and when; and if he will make a statement on the matter. [2779/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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NAMA will purchase eligible loans from participating institutions and will manage these loans with the intention of generating the best possible return for the taxpayer. NAMA will, in effect, step into the shoes of the participating institution that has transferred the loan to NAMA. Its interaction with each borrower, including the enforcement of security, will be governed by the relevant loan contract. In general, where a borrower is in default, NAMA will have the option of enforcing security which in many cases will involve the seizing of property. However, the details of the security and any restrictions applying to the borrower will differ depending on the content of each loan agreement.

Fergus O'Dowd (Louth, Fine Gael)
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Question 91: To ask the Minister for Finance the action that will be taken by the National Assets Management Agency regarding unfinished shopping centres, housing estates and apartments which remain unsold and unoccupied; and if he will make a statement on the matter. [2805/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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NAMA is being established to purchase certain portfolios of risky loan assets from the balance sheets of participating institutions. In the course of its operation it is expected that NAMA will take possession of various properties. Under the NAMA Act, NAMA will have access to working capital in order for it to complete developments or projects where it is commercially advantageous to do so. It will be a matter for the NAMA Board to manage and deal with acquired properties in a commercial fashion and on a case by case basis with the intention of generating the best achievable financial return for the State.